Buy Buy Buy or Sell Sell Sell?

[Cpt_reader]

Number two isn't really important and I don't see it as part of the basic knowledge of bitcoin because getting a good wallet that is an open source and self custody can be a problem to a new investor since bitcoin wallet is technical. Since he is a new investor who wants to start his bitcoin investment with weekly DCA, he is to only open an account with a reputable exchange, buy bitcoin through p2p and leave his bitcoin in the exchange for the main time, while he continues to learn more about bitcoin and which wallet is best for him to use.

It's also important that when accumulating bitcoin, we don't buy bitcoin of $50 and send immediately to our self custody wallet in order to avoid many small small UTXO, which can suck almost all our profits in future if transact fees becomes very high. Good UTXO management is important as a bitcoin investor which is why you need to accumulate your bitcoin to a good amount up to $500 and above  in your exchange account before transferring it to your hardware wallet.

I also think so. It is better to buy through P2P by creating an account on a good exchange and verifying it. It is better to adopt the DCA method. You can buy weekly or monthly amounts of $20, $50, $100. It is better for traders to wait for the market to fall but not for holders. After buying $500/1000, you transfer your high security to a wallet. I created a wallet, saved the phase well, kept the wallet address, deleted the wallet and only transferred bitcoin from the exchange to that wallet address and I think this is safe and good. And I wrote the phase of that wallet in a diary and told my wife because if I die, she can find them.Because a few days ago a boy in our village died. He held Bitcoins like this but we don't know his wallet phase so they couldn't be saved anymore.

[Futurexxx]

. It is better for traders to wait for the market to fall but not for holders.

It makes no sense waiting for the market, yes it's true that traders prefer waiting but that doesn't mean that they can outsmart the market by acting in such a manner. The best thing to do is to buy Bitcoin anytime your discretionary income is available and hold because that's the only way you can achieve something huge with Bitcoin, all other means that traders are doing thinking they can make a fortune from the market are just time consuming and less rewarding when compared with someone that accumulated a huge stash of Bitcoin and hold for a long duration like 10 years or more.
So in essence of what am trying to say is that waiting doesn't guarantee success, and it's a terrible way to accumulate Bitcoin.

[Shadiq]

. It is better for traders to wait for the market to fall but not for holders.

It makes no sense waiting for the market, yes it's true that traders prefer waiting but that doesn't mean that they can outsmart the market by acting in such a manner. The best thing to do is to buy Bitcoin anytime your discretionary income is available and hold because that's the only way you can achieve something huge with Bitcoin, all other means that traders are doing thinking they can make a fortune from the market are just time consuming and less rewarding when compared with someone that accumulated a huge stash of Bitcoin and hold for a long duration like 10 years or more.
So in essence of what am trying to say is that waiting doesn't guarantee success, and it's a terrible way to accumulate Bitcoin.

I suggest you to clarify your position, do you want to be a trader or an investor?

This thread is specifically made for investors and it would be better to discuss investment here. Because discussing investment and discussing trading will not be the same and the advice is also contradictory.

For an investor, the main objective is not to make a profit, but to accumulate Bitcoin and accumulate Bitcoin according to the goal in his portfolio. Although profit is an integral part of investment, an investor earns several times more profit than a trader in the long run.

An investor does not need to pay attention to the market. Because he is accumulating Bitcoin, the price is not important to him. Even in the long run, this market volatility does not have much impact. Because the difference between today's market and the market 10 years from now will be very big. So, do not focus too much on the price and focus on buying.

[ejikeme24]

if you are a newbie who wants to go into Bitcoin investment as an investor, all you need to know is the basic things about Bitcoin and then you start, someone asked me some time ago that what are those basic things she needs to know before starting and I told her.
1. What Bitcoin is.
2. [Edited out]
3. How to buy and hold.

This are the 3 basic things you need to know before starting any other thing will be learnt as time goes on or as you continue your accumulation journey.

Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:


Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.

High volatility: bitcoin in known for its wild price swings, one day bitcoin can hit a new ATH, the next day it could drop by 20% as a beginner you also need to understand this to avoid selling your holdings with panick.

Security: A beginner need to get Smart about security, one of the important aspect of  buying bitcoin is storing it safely in such a way that scammers will never have access to it, the same thing applicable to your wallet seed phrase, if you're to save it offline you need to keep it out of the reach of children/ people.

Choose your wallet: there are a lot of wallets out there so a beginner need to be very careful to avoid choosing the wrong wallet.


Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.

[Futurexxx]

. It is better for traders to wait for the market to fall but not for holders.

It makes no sense waiting for the market, yes it's true that traders prefer waiting but that doesn't mean that they can outsmart the market by acting in such a manner. The best thing to do is to buy Bitcoin anytime your discretionary income is available and hold because that's the only way you can achieve something huge with Bitcoin, all other means that traders are doing thinking they can make a fortune from the market are just time consuming and less rewarding when compared with someone that accumulated a huge stash of Bitcoin and hold for a long duration like 10 years or more.
So in essence of what am trying to say is that waiting doesn't guarantee success, and it's a terrible way to accumulate Bitcoin.

I suggest you to clarify your position, do you want to be a trader or an investor?

This thread is specifically made for investors and it would be better to discuss investment here. Because discussing investment and discussing trading will not be the same and the advice is also contradictory.

Does my write up makes me looks like a trader?
I don't really think so if that's what's going on in your head, I was trying to address what cpt_reader said, and yes it's true that this thread is mainly about investment in Bitcoin, but In the cause of discussion you can't totally avoid comparing investment in Bitcoin and trading, so forgive me if you think am turning this thread into something else, because am an investor, not a trader.

[Derekfunds]

Number two isn't really important and I don't see it as part of the basic knowledge of bitcoin because getting a good wallet that is an open source and self custody can be a problem to a new investor since bitcoin wallet is technical. Since he is a new investor who wants to start his bitcoin investment with weekly DCA, he is to only open an account with a reputable exchange, buy bitcoin through p2p and leave his bitcoin in the exchange for the main time, while he continues to learn more about bitcoin and which wallet is best for him to use.

It's also important that when accumulating bitcoin, we don't buy bitcoin of $50 and send immediately to our self custody wallet in order to avoid many small small UTXO, which can suck almost all our profits in future if transact fees becomes very high. Good UTXO management is important as a bitcoin investor which is why you need to accumulate your bitcoin to a good amount up to $500 and above  in your exchange account before transferring it to your hardware wallet.

I also think so. It is better to buy through P2P by creating an account on a good exchange and verifying it. It is better to adopt the DCA method. You can buy weekly or monthly amounts of $20, $50, $100. It is better for traders to wait for the market to fall but not for holders. After buying $500/1000, you transfer your high security to a wallet. I created a wallet, saved the phase well, kept the wallet address, deleted the wallet and only transferred bitcoin from the exchange to that wallet address and I think this is safe and good. And I wrote the phase of that wallet in a diary and told my wife because if I die, she can find them.Because a few days ago a boy in our village died. He held Bitcoins like this but we don't know his wallet phase so they couldn't be saved anymore.

Anyhow an investor is using to buy his or her Bitcoin whether P2P or not, so long as they are familiar and okay with that method and it is not disturbing them, then is good. The most important thing is that you are buying and you are holding for a long term but saving your wallet address and deleting the wallet from your device doesn't sound good if you ask me and better still you can hide the wallet in your device if you have an application instead of deleting it and lastly, no matter where you save your seed phrase if you are not careful someone will see it one day.

[Stormisover]

However it is also good for a newbie not to jump into investing in Bitcoin when he doesn't have proper knowledge about bitcoin because if he does,he would make a lot of terrible mistakes along the line. It is good for him to seek guildline from an experience long term investor that will orientate him and also keep him on check.

Newbies don’t need to learn much before they can start investing in Bitcoin. What they need is just basic knowledge. Once they start investing, they can gradually learn whatever they want to know about Bitcoin. Waiting to learn everything about Bitcoin before investing is, in my view, a waste of opportunities  because Bitcoin’s price is unpredictable.So, the best approach for a newbie is: after getting the basic knowledge, they should focus on accumulation. As long as someone has a long-term aim of holding Bitcoin, it will be hard for them to make the common newbie mistake of selling when the market is dumping.

In fact, you don’t need to go too deep into Bitcoin knowledge to be an investor. All you need is to ensure proper security for your Bitcoin  like moving your Bitcoin from exchanges to your personal wallet, where you have full control of your asset.that said, it's not necessary to immediately move your Bitcoin to a non-custodial wallet when you first start accumulating. That’s something you can do later, once your holdings reach a certain amount worth protecting.

Exactly , some  people delay getting started because they think they need to know everything first, but the truth is you learn best by doing. Bitcoin is not a school subject it is an experience Once you have the basics  knowledge , how to secure your assets the rest comes naturally as you grow in the space And I agree with the part about security. At first a trusted exchange might be okay  especially for small amounts but over time, moving to a non-custodial wallet gives that peace of mind and real ownership. The most important thing is to start  Waiting for perfect knowledge

You are correct to proclaim that there is a lot of experiential value in connection with learning about and building knowledge in bitcoin, yet all of the knowledge is not going to come naturally and without efforts, even if several of us presume that an overwhelming majority of normal people have the requisite basic levels of knowledge base that allows for them to build their skills and knowledge without needs for special skills and training. In other words, normies can learn and build in bitcoin based on skills and knowledge that they already have in their possession, yet doing the right thing and having the better outcomes is not automatic and/or without work and paying attention and organizing and adapting and self-tailoring.

I feel knowledge is more valuable to profit when we put what we know and have learned in to practice, and I believe that sometimes we gain some knowledge when we try putting what we have learned and put them into practice, majority of beginners we suggest that we should get all knowledge and understanding before we should be starting to invest our discretionary income into bitcoin which I feel that is mostly not true, there is never a guarantee that you I will need to get all the information and knowledge to be successful in Bitcoin, there are knowledge that sometimes we get them naturally by coming here and reading what the guys here are talking about and understanding them we feel they are things we learnt naturally, some guys will feel that what they are learning here and the emphasis that are being laid here are not enough for them to invest and keep accumulating, because they have a lot of doubts in there mind and they ignore this things because there mind are not settled to invest in bitcoin, and you will also learn that there are folks who thinks that before they can invest in bitcoin they need to learn from people who are successful in bitcoin investment, they also thinks that they need a lecture classes to learn how to invest and be successful in bitcoin, I must just say that people who have this mindset and thinking are people who are not really interested and ready to invest that have this mindset.
Then at the other end you will find someone that have been investing in Bitcoin who doesn’t require all of this knowledge to invest, that just started with a discretionary fund after hearing about Bitcoin and they seems to be doing absolutely fine in his bitcoin investment and holding.

Procrastination indeed can lead to lost of opportunities it is much easier to understand individual saying that they have discretionary income to invest in Bitcoin than talking about having doubt When strategies such as the dca strategy of accumulating Bitcoin can become of a great method or process of maximizing time and opportunities and apparently reduces the impact of doubts, they are scared over what they don't have and that is hilarious, some by so doing will come in to Bitcoin with fomo which can affect their approach in a negative way because it was not done with proper preparation.

[Bluedrem]

if you are a newbie who wants to go into Bitcoin investment as an investor, all you need to know is the basic things about Bitcoin and then you start, someone asked me some time ago that what are those basic things she needs to know before starting and I told her.
1. What Bitcoin is.
2. [Edited out]
3. How to buy and hold.

This are the 3 basic things you need to know before starting any other thing will be learnt as time goes on or as you continue your accumulation journey.

Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:


Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.

High volatility: bitcoin in known for its wild price swings, one day bitcoin can hit a new ATH, the next day it could drop by 20% as a beginner you also need to understand this to avoid selling your holdings with panick.

Security: A beginner need to get Smart about security, one of the important aspect of  buying bitcoin is storing it safely in such a way that scammers will never have access to it, the same thing applicable to your wallet seed phrase, if you're to save it offline you need to keep it out of the reach of children/ people.

Choose your wallet: there are a lot of wallets out there so a beginner need to be very careful to avoid choosing the wrong wallet.


Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.

I think a person does not need to know much about investing in Bitcoin.
If he understands that Bitcoin is an asset that is exchangeable and is much more popular worldwide.
Also, if he is aware of the right type of investment, then if he has a reasonable income, he can start investing in Bitcoin.
When Christopher Columbus started his journey, he did not know what was waiting for him, he only knew that he had to move forward to be the last to discover America.
You start investing in Bitcoin, Bitcoin is not a mirage, it will reward you in the future.

[adultcrypto]

I also think so. It is better to buy through P2P by creating an account on a good exchange and verifying it. It is better to adopt the DCA method. You can buy weekly or monthly amounts of $20, $50, $100. It is better for traders to wait for the market to fall but not for holders. After buying $500/1000, you transfer your high security to a wallet. I created a wallet, saved the phase well, kept the wallet address, deleted the wallet and only transferred bitcoin from the exchange to that wallet address and I think this is safe and good. And I wrote the phase of that wallet in a diary and told my wife because if I die, she can find them.Because a few days ago a boy in our village died. He held Bitcoins like this but we don't know his wallet phase so they couldn't be saved anymore.

Some of your points are very good but some need improvement. Buying from CEX exchange is not bad especially if you are withdrawing weekly or monthly into your private wallet where you control the private keys. It will only be bad if you buy and keep them in CEX instead of withdrawing to your wallet. However, it is better to use DEX exchange to buy your bitcoin if you don't want to submit KYC.

Secondly, you should not wait for the market to dip before you buy, I know you referenced that to be what traders do but it is better we keep traders out of this discussion since what we are discussing is long term investment and not trading. Therefore, the DCA method is just enough for anyone that want to accumulate bitcoin for long term.

[danadc]

I also think so. It is better to buy through P2P by creating an account on a good exchange and verifying it. It is better to adopt the DCA method. You can buy weekly or monthly amounts of $20, $50, $100. It is better for traders to wait for the market to fall but not for holders. After buying $500/1000, you transfer your high security to a wallet. I created a wallet, saved the phase well, kept the wallet address, deleted the wallet and only transferred bitcoin from the exchange to that wallet address and I think this is safe and good. And I wrote the phase of that wallet in a diary and told my wife because if I die, she can find them.Because a few days ago a boy in our village died. He held Bitcoins like this but we don't know his wallet phase so they couldn't be saved anymore.

Some of your points are very good but some need improvement. Buying from CEX exchange is not bad especially if you are withdrawing weekly or monthly into your private wallet where you control the private keys. It will only be bad if you buy and keep them in CEX instead of withdrawing to your wallet. However, it is better to use DEX exchange to buy your bitcoin if you don't want to submit KYC.

Secondly, you should not wait for the market to dip before you buy, I know you referenced that to be what traders do but it is better we keep traders out of this discussion since what we are discussing is long term investment and not trading. Therefore, the DCA method is just enough for anyone that want to accumulate bitcoin for long term.

It's not a bad idea to wait for the price ofBTCto drop before buying , but right now it's prudent to adopt the DCA model or method, It's the best thing to do, the price of BTCis rising and will likely rise further and if that's the case, you should still buy, even if it's just a little, the idea is to always follow that little impulse to buy, The more BTCyou buy, the more you'll have You have to see BTC as BTC and not so much for its price, If you accumulate more BTC, it's always much better, It's an investment in your future.

[Tonimez]

. It is better for traders to wait for the market to fall but not for holders.

It makes no sense waiting for the market, yes it's true that traders prefer waiting but that doesn't mean that they can outsmart the market by acting in such a manner. The best thing to do is to buy Bitcoin anytime your discretionary income is available and hold because that's the only way you can achieve something huge with Bitcoin, all other means that traders are doing thinking they can make a fortune from the market are just time consuming and less rewarding when compared with someone that accumulated a huge stash of Bitcoin and hold for a long duration like 10 years or more.
So in essence of what am trying to say is that waiting doesn't guarantee success, and it's a terrible way to accumulate Bitcoin.

I suggest you to clarify your position, do you want to be a trader or an investor?

This thread is specifically made for investors and it would be better to discuss investment here. Because discussing investment and discussing trading will not be the same and the advice is also contradictory.

For an investor, the main objective is not to make a profit, but to accumulate Bitcoin and accumulate Bitcoin according to the goal in his portfolio. Although profit is an integral part of investment, an investor earns several times more profit than a trader in the long run.

An investor does not need to pay attention to the market. Because he is accumulating Bitcoin, the price is not important to him. Even in the long run, this market volatility does not have much impact. Because the difference between today's market and the market 10 years from now will be very big. So, do not focus too much on the price and focus on buying.

Even though the thread is specifically meant for someone else, it is also very important to make people also understand the things around. So many forum members rely fully on some of these threads to gain every knowledge of bitcoin they  they used space.

if you are a newbie who wants to go into Bitcoin investment as an investor, all you need to know is the basic things about Bitcoin and then you start, someone asked me some time ago that what are those basic things she needs to know before starting and I told her.
1. What Bitcoin is.
2. [Edited out]
3. How to buy and hold.

This are the 3 basic things you need to know before starting any other thing will be learnt as time goes on or as you continue your accumulation journey.

Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:

Your points are right but very impulsive.

Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.

I don't think you really understand risk management very well as regards bitcoin holding or will I say that bitcoin investment has gone beyond receiving such level of emphasis on risk management. Or do you mean how to manage other areas of responsibilities to avoid risking your bitcoin over any slight unforeseen circumstances which could have been tackled with the emergency funds. Bitcoin is a very less risky venture and does not require reading a whole template to understand, all you need is just, buy and buy and hold for long term and you will reap it at maturity.

High volatility: bitcoin in known for its wild price swings, one day bitcoin can hit a new ATH, the next day it could drop by 20% as a beginner you also need to understand this to avoid selling your holdings with panick.

Yeah, sure. Bitcoin volatility is an integral part of bitcoin investment that must be understood by any beginner to be able to go through the phases of bitcoin investment. Bitcoin volatility has no established pattern nor period as to when you look forward to it. Understanding this behaviour would save your bitcoin from panic sales which will also cause possible losses of your bitcoin stash. This is also the strength of bitcoin and also contributes to bitcoin price regulation.

Security: A beginner need to get Smart about security, one of the important aspect of  buying bitcoin is storing it safely in such a way that scammers will never have access to it, the same thing applicable to your wallet seed phrase, if you're to save it offline you need to keep it out of the reach of children/ people.

The security of your bitcoin stash is your responsibility. As an investor you have to understand that your bitcoin security is the first duty you have. Guarding your passwords, pass keys, pass phrase and Even you Authenticator.  Bitcoin theft don't just happen, you must create a loophole for anyone to scam you.

Choose your wallet: there are a lot of wallets out there so a beginner need to be very careful to avoid choosing the wrong wallet.

Your choice of wallet is your sole responsibilities and you have to consider it's friendliness and proper secured withdrawal interface.

Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.

Investing by discretionary income is something any investor who aims at the future should look at. When you intend holding for long term, you also do it without stress. Investing with Not all your discretionary income but only a percentage of your Discretionary income would make you invest only what you can hold for long. Whoever earns any amount should learn to build his emergency funds first thing.

[Zackz5000]

It's not a bad idea to wait for the price ofBTCto drop before buying ,

Waiting for the price of Bitcoin to drop before accumulating Bitcoin is not for Investors but traders and it's a wrong strategy of accumulating Bitcoin expecially for new investors, you won't have much Bitcoin to your portfolio because you are always waiting for the price to dip before accumulating, most of these people who always wait for the dip season end up not accumulating any Bitcoin because they might not see their desire dip, but with the DCA strategy one can accumulate Bitcoin without waiting for the dip to occur first because you will be accumulating irrespective of Bitcoin price either low or high regularly, consistently and persistently either every weeks or months and hodl for a longer period of time and it's far more better than waiting for the dip that might not even come.

[sotelorene]

I also think so. It is better to buy through P2P by creating an account on a good exchange and verifying it. It is better to adopt the DCA method. You can buy weekly or monthly amounts of $20, $50, $100. It is better for traders to wait for the market to fall but not for holders. After buying $500/1000, you transfer your high security to a wallet. I created a wallet, saved the phase well, kept the wallet address, deleted the wallet and only transferred bitcoin from the exchange to that wallet address and I think this is safe and good. And I wrote the phase of that wallet in a diary and told my wife because if I die, she can find them.Because a few days ago a boy in our village died. He held Bitcoins like this but we don't know his wallet phase so they couldn't be saved anymore.

Some of your points are very good but some need improvement. Buying from CEX exchange is not bad especially if you are withdrawing weekly or monthly into your private wallet where you control the private keys. It will only be bad if you buy and keep them in CEX instead of withdrawing to your wallet. However, it is better to use DEX exchange to buy your bitcoin if you don't want to submit KYC.

Secondly, you should not wait for the market to dip before you buy, I know you referenced that to be what traders do but it is better we keep traders out of this discussion since what we are discussing is long term investment and not trading. Therefore, the DCA method is just enough for anyone that want to accumulate bitcoin for long term.

It's not a bad idea to wait for the price ofBTCto drop before buying but right now it's prudent to adopt the DCA model or method, It's the best thing to do, the price of BTCis rising and will likely rise further and if that's the case, you should still buy, even if it's just a little, the idea is to always follow that little impulse to buy, The more BTCyou buy, the more you'll have You have to see BTC as BTC and not so much for its price, If you accumulate more BTC, it's always much better, It's an investment in your future.

I disagree with this bold words because it is a bad idea and very wrong to wait for Bitcoin to first dip before buying I mean that is a trader strategy and mindset because the reason why they are waiting is that they feel they will stand or be at advantage if they buy at the Dip because they feel the market will pump from there which is not totally true or certain. It is advise not to wait for the Dip before buying rather keep accumulating using the DCA method and also be preparing for the Dip then if peradventure Dip comes, you take advantage of it and I think that is the best and it make sense.

[Sonia_123]

It's not a bad idea to wait for the price ofBTCto drop before buying ,

Waiting for the price of Bitcoin to drop before accumulating Bitcoin is not for Investors but traders and it's a wrong strategy of accumulating Bitcoin expecially for new investors, you won't have much Bitcoin to your portfolio because you are always waiting for the price to dip before accumulating, most of these people who always wait for the dip season end up not accumulating any Bitcoin because they might not see their desire dip, but with the DCA strategy one can accumulate Bitcoin without waiting for the dip to occur first because you will be accumulating irrespective of Bitcoin price either low or high regularly, consistently and persistently either every weeks or months and hodl for a longer period of time and it's far more better than waiting for the dip that might not even come.

I agree with you, alot of investors always make this mistake of waiting for the dip before buying more forgetting the fact that if the price of Bitcoin dips below what they have bought before, they are always thinking that they are losing, and that is why they feel that it is only buying the dips that is the best 
all they need to do is patience and buy more and accumulate so that when Bitcoin price increases back, they will make more profit from their earlier purchase, because when Bitcoin falls it will rise up and get to a new ATH.

Therefore buying at any amount of the market price of Bitcoin is always the best and it's helping you grow faster to reach your investment target  on time than those that waits for the dip before buying, they will not have accumulated up to those buying regularly, consistently and persistently weekly or monthly without the waiting for the dip.

[ejikeme24]

Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:

Your points are right but very impulsive.

Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.

I don't think you really understand risk management very well as regards bitcoin holding or will I say that bitcoin investment has gone beyond receiving such level of emphasis on risk management. Or do you mean how to manage other areas of responsibilities to avoid risking your bitcoin over any slight unforeseen circumstances which could have been tackled with the emergency funds. Bitcoin is a very less risky venture and does not require reading a whole template to understand, all you need is just, buy and buy and hold for long term and you will reap it at maturity.

yeah I was trying to point out other areas of responsibilities to avoid risking thier bitcoin, because some beginners may be attempting to invest for short term profit which we know that short term investment comes with alot of risk so they need to understand this to enable them follow the main procedure I mean chasing the long term goal.

Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.

Investing by discretionary income is something any investor who aims at the future should look at. When you intend holding for long term, you also do it without stress. Investing with Not all your discretionary income but only a percentage of your Discretionary income would make you invest only what you can hold for long. Whoever earns any amount should learn to build his emergency funds first thing.

I agree with you on this one, an Investor is supposed to be putting some portion of his discretionary into bitcoin, the same thing applicable to those investors that would like to apply some aggressiveness, is advised not to over step your boundaries but to maintain boundaries to avoid stress. And yeah, is very important to build our emergency fund quite on time, even though some people will want to get started before looking for a way to build thier emergency fund, But it shouldn't take us more than 2 months before we start looking for a way to make it available.

[IceLincoln]

Exactly , some  people delay getting started because they think they need to know everything first, but the truth is you learn best by doing. Bitcoin is not a school subject it is an experience Once you have the basics  knowledge , how to secure your assets the rest comes naturally as you grow in the space And I agree with the part about security. At first a trusted exchange might be okay  especially for small amounts but over time, moving to a non-custodial wallet gives that peace of mind and real ownership. The most important thing is to start  Waiting for perfect knowledge.

What you just need to get started is your discretionary income and the basic knowledge about Bitcoin, you saying that it's an experience is not proper because if an individual don't have the basic knowledge about Bitcoin, it would be wrong starting and hoping that experience will see him through in his Bitcoin investment.
You just have to know how to accumulate consistently and what is required to hold resiliently without you tempering with your holdings, which is having an emergency funds and a reserve funds, because those are the key things that enables you to hold without tempering with it.

@Fine bone I think you didn’t understand him well enough. You gain better knowledge of bitcoin through practice, that practice becomes experience and drives you to know further as you continue your bitcoin journey. You don’t need to wait to acquire all the knowledge before you can start investing.
Once you’ve started investing, everyday becomes a learning experience you’re no longer a passive player you’ve become an active investor and this will drive you to want to know more to protect your investment and improve on it.

Since he is a new investor who wants to start his bitcoin investment with weekly DCA, he is to only open an account with a reputable exchange, buy bitcoin through p2p and leave his bitcoin in the exchange for the main time, while he continues to learn more about bitcoin and which wallet is best for him to use.

I don’t think advising a newbie to buy bitcoin through p2p is a good idea. Considering that this person is new and have little to zero knowledge of the crypto space. The warnings and demerits should be well outlined and ensure it’s properly understood, because there are a lot of people in p2p who just want to cheat you off your money and newbies are an easy catch.

[Pi-network314159]

[Edit out]

This is a good point adultcrypto since we don't need to have faith from the start and we could even be somewhat bearish, and in some sense, if we try to figure out our position size in accordance with our level of doubt or our level of bullishness, we can adjust our position size to become greater in the future if we become more bullish in the future.

Being bearish would allow you lower your expectations and when it turns bullish, the joy would be stronger. But being too bullish in your expectations may expose you to investing beyond your capacity which would also make you unable to hold for long.

Bitcoin being bullish is the more reason why people will want to invest in it. and even if people get overly excited and buy aggressively they will surely get their profit in the long run. But people should not overly get excited of Bitcoin volatile nature and invest above what they can afford to lose otherwise they will still sell off their Bitcoin without meeting up their target. And secondly you don't need your mind to fluctuate because of bear and bull season, by lowering your expectations in bear and having joy during Bull season. We all knows that Bitcoin will always have bear and bull season and that should be a more reason we should keep investment without looking at the appropriate season and time to invest.

[Berry2d]

Though traders may make decent dollar profit, but can not be compeard to guys that invested in long or short period of time. Expecialy those that was lucky to have bought Bitcoin during it's bearish season and sell in bullrun. Let's say an investor who bought 1 Bitcoin last year when Bitcoin starting price was $44,161.95 or at  and sold this year at current price $123, the person would be making 2x profit of $88k compeard to a trader who might have been trading since the past one year.

You are giving an example of a trader even though you are calling him an investor becuase he held his trade for a year.

You are not helping with your attempt to call traders investors.

You might need to rethink your own ways of talking about these matters and/or even how you think about it.

Sure you can have short term and long term traders... .. but just beause someone is a long term trader, that does not turn him into an investor when he is merely getting in and out of bitcoin and even if he happen to make a 2x, 3x, 5x or even a greater profits, that does not convert him into an investor merely because his profits are greater.

I have gone through the whole reply and see that my statement was indirectly speaking about trader where as I thought am talking about investor. But from your statement I now realize that investor don't have an investment plans less than 4 years but 4 to 10 years above. No matter the profit made by a person in less than a year period can not be considered as investor even if Bitcoin  bullish  hit 3 to 4x or more. Thanks for the clarification at Jay.

[mich]

Well if you are even thinking of going to sell your Bitcoin you do not like profit. Bitcoin did hit a new all time high of 123k and now it is back down to 118k.
I do think we will see this all time high of 123k before we do end this month. So we should not want to sell out Bitcoins. We can buy them for cheaper now and wait for us to go back to the all time high and then more.

[Cipherpz]

Well if you are even thinking of going to sell your Bitcoin you do not like profit. Bitcoin did hit a new all time high of 123k and now it is back down to 118k.
I do think we will see this all time high of 123k before we do end this month. So we should not want to sell out Bitcoins. We can buy them for cheaper now and wait for us to go back to the all time high and then more.

Any decision should not be made solely based on price because the market always reacts in the same way. You should consider the market context, trends, and your investment goals. If you have a long-term plan and the main goal is to hold, then taking advantage of the price drop as it is now can be a great part of your DCA strategy. If you trade in a hurry hoping for profit, it can also be dangerous. It is wisest to make decisions based on your risk tolerance, emergency funds, time frame, and goals. Investing based on information, logic, and market demand analysis, rather than emotions, is the only way to get sustainable and real results.